African-American Buying Power Nears $1.1 Trillion

Black buying power is expected to reach $1.1 trillion by 2015, according to The State of the African-American Consumer Report.

The study on African-American consumer trends found that the percentage of Black people attending college or earning a degree has increased to 44 percent for men and 53 percent for women, and the number of Black households earning $75,000 or higher grew by almost 64 percent.

Growth in affluence, social influence and household income will continue to impact the Black community’s economic power, according to Nielsen.

“By sharing, for example, that African Americans over-index in several key areas, including television viewing and mobile phone usage, we’ve provided a better picture of where the African-American community can leverage that buying power to help their communities,” Susan Whiting, vice chair, Nielsen said.